HRS §468M-5
When activity desks must pass on interest and payments
An activity desk that collects interest on money owed to an activity provider must send that interest and the payment to the provider. If it does not send them within 30 days of the invoice, it must pay extra interest on the unpaid amount at 1% per month from the due date.
businesses
The statute, as written — Legal rate; computation
Except as otherwise permitted by existing written contract, any activity desk that directly or indirectly receives any interest on the payment due to the activity provider, shall remit the interest and the payment due to the activity provider; provided that if the interest and payment due are not remitted within thirty days from the date of invoice, interest on the unpaid balance of the interest and payment due shall accrue at the rate of one per cent per month from the due date.
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